US Loses Another 3.8M Jobs Last week; Nearly 30M in 6 Weeks.
This morning the Department of Labor released the initial jobless claims data for the week ending April 25, the advance figure for seasonally adjusted initial claims was 3,839,000, another decline in data, however cumulatively we are now at over 30M claims over the last 6 weeks.
The four week moving average from jobless claims has now fallen to that of 5,033,250, a decrease of 757,000 from the previous week’s moving average. By comparison, the advance seasonally adjusted insured unemployment rate rose to 12.4% during the week ending April 18, a rise of 1.5% from the week prior. The data is reported with a one week delay relative to jobless claims.
Information for this briefing was found via the Department of Labor. The author has no securities or affiliations with any of the mentioned securities. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.
Yikes. Starting to think an L Shape Recovery would be nice.
Just under 10 percent of the population has applied for EI in under 2 months.
Thats only who applied. Real number likely north of 50M. Yikes.